Council Decision of 16 March 2010 amending Decision 2009/459/EC providing Community medium-term financial assistance for Romania (2010/183/EU)
Grade B
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Address https://gelex.eu/eli/EU/decision/2010/183@2010-03-16/en
THE COUNCIL OF THE EUROPEAN UNION,
Having regard to the Treaty on the Functioning of the European Union,
Having regard to Council Regulation (EC) No 332/2002 of 18 February 2002 establishing a facility providing medium-term financial assistance for Member States’ balances of payments and in particular Article 5, second subparagraph, in conjunction with Article 8 thereof,
Having regard to the proposal from the Commission made after consulting the Economic and Financial Committee (EFC),
Whereas:
(1) By Decision 2009/458/EC, the Council granted mutual assistance to Romania and by Decision 2009/459/EC, the Council provided medium-term financial assistance for Romania.
(2) The scope and intensity of the economic recession affecting Romania calls for a revision of the economic policy conditions foreseen for the disbursement of the instalments of the financial assistance with a view to taking into account the impact of the larger-than-expected contraction of real GDP.
(3) Decision 2009/459/EC should therefore be amended accordingly,
HAS ADOPTED THIS DECISION:
Article 1
Decision 2009/459/EC is hereby amended as follows:
1. in Article 3(5), point (a) shall be replaced by the following:
(a) implementing a clearly set medium-term fiscal programme so as to bring the general government deficit below the Treaty reference value of 3 % of GDP with a time-frame and a consolidation path which are consistent with the Council recommendations to Romania adopted under the excessive deficit procedure.;
2. in Article 3(5), point (b) shall be replaced by the following:
(b) adopting and implementing annual budgets for 2010 and beyond, consistent with the consolidation path set out in the Supplemental Memorandum of Understanding..
Article 2
This Decision shall take effect on the day of its notification.
Article 3
This Decision is addressed to Romania.
Article 4
This Decision shall be published in the Official Journal of the European Union.
Done at Brussels, 16 March 2010. For the Council The President E. Salgado
Versions
Cited by
- Council Recommendation of 10 July 2012 on the National Reform Programme 2012 of Romania and delivering a Council opinion on the Convergence Programme of Romania, 2012-15 2012/C 219/21 Notice · Grade B
On 6 May 2009, the Council adopted Decision 2009/459/EC to make available to Romania medium-term financial assistance for a period of three years under Article 143 of the Treaty. The accompanying Memorandum of Understanding signed on 23 June 2009 and its successive supplements lay down the economic policy conditions on the basis of which the financial assistance was disbursed. Decision 2009/459/EC was amended on 16 March 2010 by Decision 2010/183/EU. Following Romania’s successful implementation of the Medium-term Financial Assistance Programme, and given an important but partial adjustment of
- Council Recommendation of 10 July 2012 on the National Reform Programme 2012 of Romania and delivering a Council opinion on the Convergence Programme of Romania, 2012-15 2012/C 219/21 Notice · Grade B
HEREBY RECOMMENDS that Romania take action within the period 2012-13 to: Implement the measures laid down in Decision 2009/459/EC, as amended by Decision 2010/183/EU, together with the measures laid down in Decision 2011/288/EU and further specified in the Memorandum of Understanding of 23 June 2009 and its subsequent supplements, and in the Memorandum of Understanding of 29 June 2011 and its subsequent supplements. Done at Brussels, 10 July 2012. For the Council The President V. Shiarly
- Council Recommendation of 12 July 2011 on the National Reform Programme 2011 of Romania and delivering a Council opinion on the updated Convergence Programme of Romania, 2011-2014 2011/C 216/03 Notice · Grade B
On 6 May 2009, the Council adopted Decision 2009/459/EC to make available to Romania medium-term financial assistance for a period of three years under the provisions of Article 143 of the Treaty. The accompanying Memorandum of Understanding signed on 23 June 2009 and its successive supplements lay down the economic policy conditions on the basis of which the financial assistance was disbursed. Decision 2009/459/EC was amended on 16 March 2010 by Decision 2010/183/EU. Following Romania's successful implementation of the programme, and given a partial adjustment of the current account because o
- Council Recommendation of 12 July 2011 on the National Reform Programme 2011 of Romania and delivering a Council opinion on the updated Convergence Programme of Romania, 2011-2014 2011/C 216/03 Notice · Grade B
HEREBY RECOMMENDS that Romania: Implement the measures laid down in Decision 2009/459/EC as amended by Decision 2010/183/EU, together with the measures laid down in Decision 2011/288/EU and further specified in the Memorandum of Understanding of 23 June 2009 and its subsequent supplements, and in the Memorandum of Understanding of 29 June 2011 and its subsequent supplements. Done at Brussels, 12 July 2011. For the Council The President J. Vincent-Rostowski